PETALING JAYA: Saliran Group Bhd, a supplier and distributor of pipes, fittings and flanges as well as related parts and accessories, and steel products, made its debut on the ACE Market of Bursa Malaysia Securities in Kuala Lumpur today.
Saliran shares opened at 27.5 sen, half a sen higher than the initial public offering (IPO) price of 27 sen, representing a premium of 1.85%.
Saliran’s IPO raised RM21.7 million, which will be allocated to fuel the company’s growth and operational expansion. The proceeds will be used for the establishment of a sales office in Indonesia, purchase of machinery and delivery trucks to improve operational efficiency, repayment of bank borrowings to strengthen financial flexibility, as well as for general working capital to support daily business activities. A portion of the funds will be used to cover listing expenses.
Managing director Liaw Choon Wei said the listing is a testament to their unwavering dedication to growth, operational excellence, and creating long-term value for their stakeholders.
“With the strong foundation we have built over the years, we are confident in our ability to expand further, strengthen our supply chain, and enhance our capabilities to better serve our customers. We remain committed to driving sustainable growth and seizing new opportunities in the industrial supply and O&G sectors,” he added.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO.
